Benin Management CORP Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Benin Management CORP lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,252 shares of the information services provider’s stock after purchasing an additional 90 shares during the quarter. Benin Management CORP’s holdings in Alphabet were worth $793,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. M. Kraus & Co boosted its position in Alphabet by 1.1% in the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after buying an additional 66 shares during the last quarter. Wynn Capital LLC boosted its holdings in shares of Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after acquiring an additional 67 shares during the last quarter. Aire Advisors LLC boosted its holdings in shares of Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. increased its stake in shares of Alphabet by 2.1% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after acquiring an additional 68 shares during the period. Finally, Defined Wealth Management LLC raised its holdings in shares of Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after purchasing an additional 71 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,284 shares of company stock worth $24,534,393. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities increased their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and issued a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Truist Financial upped their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Wedbush increased their price target on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.69.

Alphabet Stock Up 0.8 %

Shares of NASDAQ:GOOGL opened at $185.41 on Friday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. The stock has a market cap of $2.29 trillion, a P/E ratio of 28.44, a PEG ratio of 1.38 and a beta of 1.01. The business has a fifty day moving average of $171.70 and a two-hundred day moving average of $153.58. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.